Trump hails major oil deal with Venezuela
US President Donald Trump said the United States signed an agreement with Venezuela to take control of 65 billion barrels of oil.
US President Donald Trump announced on Friday that the United States had secured a monumental oil agreement with Venezuela. The deal, brokered by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, and Venezuelan interim President Delcy Rodriguez, is being hailed as the "biggest oil deal in world history" by Trump on his Truth Social platform.
Trump emphasized that the arrangement would be "at no cost to the American taxpayer." According to Rubio, the agreement will facilitate the injection of $100 billion worth of private investment into Venezuela.
This monumental deal is set to more than double the existing American oil reserves. Venezuela, home to the world's largest proven oil reserves of 303 billion barrels, has struggled to match the oil production output of other major oil-producing nations due to persistent issues such as mismanagement, deteriorating infrastructure, and stringent sanctions.
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- Trump says US has agreed deal with Venezuela to take control of 65 billion barrels of oil reserves theage.com.au
